Shapoorji Pallonji Group to merge port holding cos

Mumbai: Shapoorji Pallonji (SP) Group is considering merging two of its port-holding entities-SP Imperial Star and SP Port Maintenance-that have Dharamtar and Gopalpur Ports, respectively, as the operating entities.

While Dharamtar has already been sold to JSW, Gopalpur is set to be sold to Adani. The proposed merger will be executed through a scheme with the Company Law Tribunal (CLT), with the process expected to take several months to complete.

Meanwhile, Axis Trustees Services, acting as Debenture Trustee for the ₹14,300-crore non-convertible debentures (NCDs) issued by Goswami Infratech, informed debenture holders that Goswami Infratech has received in-principle approval from the BSE, dated September 30, on the Most Favoured Nation (MFN) trigger event.


A SP Group spokesperson did not immediately respond to request for comment.